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Zcash jumps 23% as bitcoin and major tokens rise despite Fed’s first hike since 2023

On Thursday, privacy token ZEC surged 23% to $1,369 as cryptocurrency markets rebounded following the Federal Reserve's first interest-rate increase since 2023.
The broader crypto rebound occurred after the Federal Reserve raised its benchmark rate by a quarter percentage point to a range of 3.75% to 4%, signaling measured tightening.
Bitcoin edged up less than 1% to about $76,258, while Solana gained nearly 3% to just below $100 and Nasdaq 100 futures added 0.7%.
Matt Huang, co-founder of prominent crypto investment firm Paradigm, noted ZEC's role as a privacy complement to Bitcoin and disclosed that his firm owns the token.
The Federal Reserve's median projection suggests policy rates at 4.1% through 2027, while Treasury yields eased to 4.71% after reaching their highest point since 2024.

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